Employees working from home due to the coronavirus pandemic can continue to claim tax-relief on costs not reimbursed by their employer, but a new claim will need to be made for the 2021/22 tax year, HMRC has confirmed. Employees working from home due to the coronavirus pandemic can continue to claim tax-relief on costs not…
Read more
The Recovery loan scheme is a government loan scheme that allows qualifying businesses to borrow up to £10 million – either as term loans, overdrafts, invoice finance or asset finance. It replaces the now closed Coronavirus Business Interruption Loan Scheme (CBILS) and Bounce Back Loan Scheme (BBLS). This Capitalise guide provides the details. https://cabdigitalaccountants.co.uk/wp-content/uploads/2021/04/Capitalise_Recovery_Loan_Scheme_Datasheet.pdf
The Restart Grant scheme to help businesses reopen safely as COVID-19 restrictions are lifted has been launched with confirmation grants will be available from 1 April 2021 but applications can be submitted in advance Eligible businesses in the non-essential retail sector may be entitled to a one-off cash grant of up to £6,000 from their…
Read more
A new loan scheme to support access to finance for UK business as they grow and recover from the disruption of the Covid-19 pandemic was announced at the Budget The Recovery Loan Scheme ensures businesses of any size can continue to access loans and other kinds of finance up to £10 million per business once…
Read more
Originally announced by the Chancellor of the Exchequer in September 2020, Pay As You Grow (PAYG) will enable businesses who have started repaying their Bounce Back Loans to: request an extension of their loan term to 10 years from six years, at the same fixed interest rate of 2.5% reduce their monthly repayments for six…
Read more
Businesses that took out government-backed Bounce Back Loans to get through Covid-19 will now have greater flexibility to repay their loans, the government has announced. Bounce Back Loan borrowers will now have the option to tailor payments according to their individual circumstances with the option to delay all repayments for a further six months. Pay…
Read more
1 Understand your new normal Put bluntly you need to know – does your business have a future post lockdown? Take a close look at each element of your business model to understand what’s changed and how you need to adapt Then you need to understand · Your market: has it shrunk or expanded? Temporarily or…
Read more
Very interesting research from the Entrepeneurs Network, along with Xero, on how increased digital adoption by the UK’s 1.1m micros businesses could significantly increase productivity. https://static1.squarespace.com/static/58ed40453a04116f46e8d99b/t/5f0647cdfa5c672f379d2686/1594247126067/Upgrade.pdf
Is now a good time to start a business? After the largest fall in GDP in a century, and with 9.3m jobs furloughed, this might seem like a strange time for a start up. But we’re a start-up of accountants who see this as a great opportunity to help ambitious businesses take advantage of the huge upswing…
Read more
Gary Turner, Managing Director of Xero UK tells us why we need to put digital technology at the heart of the coronavirus pandemic recovery.— Read on www.xero.com/blog/2020/07/xero-roadmap-to-business-recovery/
